Wells Fargo & Company Has Lowered Expectations for American Financial Group (NYSE:AFG) Stock Price

American Financial Group (NYSE:AFG) had its price target cut by research analysts at Wells Fargo & Company from $175.00 to $166.00 in a report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 14.80% from the stock’s previous close.

A number of other equities research analysts have also issued reports on AFG. Wall Street Zen lowered shares of American Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Piper Sandler upped their price target on shares of American Financial Group from $140.00 to $156.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods decreased their price objective on shares of American Financial Group from $153.00 to $147.00 and set a “market perform” rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded shares of American Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $152.75.

American Financial Group Stock Performance

AFG opened at $144.59 on Monday. The firm has a market cap of $11.99 billion, a PE ratio of 12.36 and a beta of 0.59. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $142.46 and a 200-day simple moving average of $137.60. American Financial Group has a fifty-two week low of $123.09 and a fifty-two week high of $148.71.

American Financial Group (NYSE:AFG) last issued its earnings results on Tuesday, August 4th. The insurance provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.50. American Financial Group had a return on equity of 20.35% and a net margin of 11.51%. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.14 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts predict that American Financial Group will post 12.29 EPS for the current fiscal year.

Insider Activity

In related news, VP Mark Weiss sold 2,813 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $144.76, for a total value of $407,209.88. Following the completion of the sale, the vice president directly owned 6,648 shares of the company’s stock, valued at approximately $962,364.48. This represents a 29.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Hertzman sold 950 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $142.87, for a total value of $135,726.50. Following the sale, the chief financial officer owned 11,123 shares of the company’s stock, valued at $1,589,143.01. The trade was a 7.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Financial Group

Large investors have recently made changes to their positions in the business. Krilogy Financial LLC grew its position in American Financial Group by 75.3% during the third quarter. Krilogy Financial LLC now owns 2,610 shares of the insurance provider’s stock valued at $375,000 after purchasing an additional 1,121 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in American Financial Group by 92.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 4,777 shares of the insurance provider’s stock valued at $678,000 after buying an additional 2,298 shares during the period. Wedmont Private Capital acquired a new position in American Financial Group in the 3rd quarter valued at approximately $203,000. GAMMA Investing LLC increased its stake in American Financial Group by 15.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,007 shares of the insurance provider’s stock valued at $411,000 after buying an additional 404 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in American Financial Group by 91.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,560 shares of the insurance provider’s stock worth $1,307,000 after buying an additional 4,560 shares in the last quarter. Institutional investors and hedge funds own 64.37% of the company’s stock.

American Financial Group Company Profile

American Financial Group, Inc is an insurance holding company headquartered in Cincinnati, Ohio. Through its Great American Insurance Group businesses, the company primarily provides property and casualty insurance products, with an emphasis on specialty commercial markets that require specialized underwriting expertise.

Its insurance offerings include coverage for commercial transportation, agriculture, workers’ compensation, excess and surplus risks, environmental exposures, inland marine, and other niche industries.